The China Securities Regulatory Commission (CSRC), the watchdog of the securities market in China, is wanting a better personnel mechanism to lure competent employees, said Li Jiange, the former vice minister of the CSRC.

Addressing the 20th China Capital Market Forum held last Saturday in Beijing, Li said,"Without a good solution to the personnel crisis in the CSRC, waves of endangered conditions of the stock market could come again."

In spite of the watchdog's humble apologies afterwards, the CSRC rushed to suspend the short-lived circuit breaker mechanism, which applied twice in four days, following the volatility in the stock market in the past few days.

Meanwhile, last year saw the most arrests of high-ranking officials inside the CSRC, involving several earliest participants in devising China's stock market and regulatory body.

Li said the qualifications of the personnel in financial institutions have far exceeded those of the employees in the CSRC. As a result, a reasonable personnel system to attract and keep these talented people is a pressing issue for the watchdog.

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